IndiGo flies deep into red with Rs 1,031 cr pre-tax loss in Sept quarter

InterGlobe Aviation, which runs the country’s largest domestic airline IndiGo, swung to a pre-tax loss of Rs 1,031 crore in second quarter FY20 owing to a mark-to-market charge and provision for aircraft maintenance expenses. In the same period last year, the airline had posted a pre-tax loss of Rs 987 crore.

While the airline reported 31 per cent year-on-year (YoY) increase in revenue from operations to Rs 8,105 crore, result was impacted due to mark-to-market foreign exchange loss of Rs 425 crore on capitalisation of aircraft leases and maintenance provision of Rs 319 crore. On a net basis, the loss stood at Rs 1,062 crore in the second quarter of FY20 compared to Rs 652 crore loss in the previous year.